The price of housing rose by 5.8% in the last quarter of 2018
The price of housing rose by 5.8% in the last quarter of 2018, according to data provided by appraiser Tinsa, which highlights that this is the highest year-on-year growth since 2007.
From the minimums at the beginning of 2015, the firm points out in a note, the price of new and used housing has increased by 11.7%, and remains 34.7% below the levels it reached in 2007; prices are now at levels of early 2013.
The Director of the Department of Studies of Tinsa, Rafael Gil, clarifies that the expansive cycle of the residential market continues, consistently growing demand and increasing values in a heterogeneous way.
Data broken down by Autonomous Community, Madrid leads the national increase and is the only region with an appreciation of more than 10% (10.8%), followed by Valencia (7.8%), Asturias (7.4%), Castilla and León (7.4%) and Aragón (7.3%).
In La Rioja, Catalonia, the Balearic Islands, Andalusia, the Canary Islands, Castilla-La Mancha and Murcia, rates are higher than 5%, while in Extremadura, the Basque Country, Navarra and Cantabria the interannual growth is less than 1.5%.
The Autonomous Communities that maintain a greater price difference compared to the maximum reached more than a decade ago are Castilla-La Mancha, with an accumulated decrease of 52.3%, followed by La Rioja (-50.3%) and Aragón ( -46.4%).
On the other extreme, the regions that most closely match the prices recorded at the peak of the last decade are the Balearic Islands (-21.4%), Madrid (-27.5%) and Galicia (-30.1%). .
Although at different rates, the residential price increase is generalized in all regions, says Rafael Gil, since in all of them the price of housing has become more expensive.
In ten provincial capitals, he adds, revaluations of 10% or more were recorded in the last twelve months; among them, Valencia (16.8%), Malaga (15.4%), Tarragona (15.1%) and Madrid (14.0%) stand out, although 11 provinces and 12 capitals showed more average prices in the fourth quarter cheap than in the same quarter of the previous year.
The data shows that Valencia and Malaga "begin to take the witness of Madrid and Barcelona in terms of strong price increases," says Gil, since both are the biggest interannual increases in value this quarter, both above 15%, surpassing the growth registered by Madrid (14.0%) and Barcelona (8.0%).
They have also recorded considerable price increases, above 10%, Tarragona, Murcia, Ciudad Real, Alicante, Guadalajara, Burgos, Zaragoza and Vigo.
